RAKBank nine-month 2020 net profits down to Dh438.64m as provisions cross Dh1b mark
Third quarter profits at RAKBank were down to Dh132.02 million, from Dh284.48 million a year ago, with higher provisions being…
Financial Results
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QIB successfully closes $750m 5-year Sukuk
Qatar Islamic Bank, rated A1/A-/A (all stable) by Moody’s/Standard & Poor’s/Fitch, successfully closed a $750m 5-year Sukuk with a profit…
Outlook: More GCC banks likely to consolidate amid tight economy, flat oil prices
More banks in the Gulf Cooperation Council (GCC) region are likely to consolidate amid challenging economic conditions and low oil…
Dubai Islamic Bank reports Dh3.12b 9-month net profits
Dubai Islamic Bank (DIB) on Tuesday reported Dh3.12 billion net profit for the 9-month period ended September 30, 2020, down…
Ahlibank posts nine-month net profit of QR500.78mn
Ahlibank posts QR500.78mn net profit for nine months Ahlibank chairman and managing director Sheikh Faisal bin AbdulAziz bin Jassem…
GCC payment revenue outlook dim: BCG
The payment revenue pool of the GCC will reach $23.1 billion by 2024, at a compounded annual growth rate of…
Dubai's biggest bank sees 55% profits slump amid coronavirus crisis
Emirates NBD, Dubai's largest bank, on Tuesday, delivered a net profit of AED5.6 billion ($1.5 billion) in the first nine…
The performance of Gulf banks
In previous articles, we touched on the expected financial performance of Gulf banks in light of the Corona pandemic, and…
Employment rate in OECD countries fell to 64.6% in Q2 2020
Employment rate in the Organisation for Economic Cooperation and Development area fell by 4 percentage points to 64.6 percent in…
QIB posts nine-month net profit of QR2.22bn
Qatar Islamic Bank has reported net profit of QR2.22bn during the first nine months of this year, which is in…
More firms to default on debt due to business slowdown
More companies could default on their borrowings before the end of the year as business activities remain well below pre-pandemic…
GCC banking sector faces prolonged slump in profits
Banks in the GCC are expected to face an uphill struggle in the next 18 months due to the protracted…